The Dow Jones Industrial Average saw its worst week since the US sub prime mortgage crisis, dropping a staggering 12 per cent in the process. European markets too plunged almost 12 per cent during the course of the week.
The fall is attributed to the sharp increase in the infections surrounding the caronavirus and there is a likelihood that we may see some short covering bounce next week. However, if infections continue to soar, it would not be a surprise to see a further fall in the markets. According to experts the fall has seen sharp and sudden also because there was also a sharp and gradual rise in the markets.
Benchmark U.S. 10-year treasury yields touched a fresh record low at 1.14%. It's likely that markets the markets may see some short covering bounce next week. However, that really depends on the pace of infections subsiding substantially.